What is a Biweekly Mortgage?

What is a bi-weekly payment plan and what can it do for me? By making a small change in the way you make your mortgage payment, you can save tens of thousands of dollars. How? All you have to do is make half of your mortgage payment every other week. It’s just that simple. Tired of paying too much interest on your home loan? Here’s how a biweekly Mortgage works: By paying half of your payment every other week, you’ll actually make 13 mortgage payments in a year instead of 12. Just this simple straightforward method can pay your mortgage off up to seven years earlyaE”seven years of your life free of mortgage payments. How is this possible? If you’re paid every other week from your employer, then you are aware that are two months out of the year where you receive three paychecks instead of two. When you get this third paycheck twice a year that you’re not counting on, you’ll be putting money towards your principal. You are used to paying half of your payment already. This means it’s going to straight to your principal.

This happens twice a year totaling one full extra payment each year. That’s how 13 payments are made in a 12-month period instead of just 12. Now, ask yourself. Would you ever do this on your own? Have you ever done this? If your answer is no, then what’s stopping you? Why not start today? This simple change can knock up to 7 years off a 30 yr home mortgage. Tilt the tables in your favor, not your mortgage company; your favor. Take control today. Visit BiWeeklyMortgageTips.com. You will get access to the free biweekly mortgage calculator to calculate how much savings you will receive on your specific mortgage, tons of free articles about payment plans for bi-weekly, how to do them, how to do them on your own if you should do them on your own.